India GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

5.4

Units In

6.7

Frequency

Quarterly

Next Release

May 30, 2025

Time to Release

2 Months 28 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
20.1 Jun 2021	-24.4 Jun 2020	5.9 %	1951-2024	Ministry of Statistics and Programme Implementation (MOSPI)

The most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent.

Latest Updates

The Indian GDP expanded 6.2% from the previous year in the December quarter of 2024, picking up from the upwardly revised 5.6% expansion in the earlier period but slightly below market expectations of a 6.3% growth rate. The rate consolidated the softening in India’s GDP growth, which was by far the fastest growing economy in the G20 up until last year, following a prolonged period of high energy and food prices, in addition to restrictive monetary policy and tight liquidity conditions by the RBI. Growth increased for private consumption expenditure (6.9% vs 5.9% in September quarter) and public expenditures (8.3% vs 3.8%), but slowed for gross fixed capital formation (5.7% vs 5.8%). In the meantime, net external demand contributed positively to the GDP as exports soared by 10.4% and imports softened by 1.1%.